Workers ‘can’t afford homes’

London's housing crisis is stifling business because the best workers are being priced out, according to employers.

Eighty-one per cent of them believe the lack of affordable housing is stalling growth in the capital, a ComRes survey for the National Housing Federation says.

Three out of four bosses warned that high house prices would affect their ability to attract and keep workers. Lizzie Clifford, NHF’s London manager, said employers “could move away, taking desperately needed jobs and strangling growth”.

The NHF says the average price of a first-time buyer home in London will be almost £490,000 by 2020.